SG Americas Securities LLC Sells 22,894 Shares of AppLovin Co. (NASDAQ:APP)

SG Americas Securities LLC lessened its stake in shares of AppLovin Co. (NASDAQ:APP) by 88.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,072 shares of the company’s stock after selling 22,894 shares during the period. SG Americas Securities LLC’s holdings in AppLovin were worth $122,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after buying an additional 1,411,453 shares in the last quarter. BlackRock Inc. raised its stake in AppLovin by 2.4% in the second quarter. BlackRock Inc. now owns 8,335,764 shares of the company’s stock worth $214,479,000 after buying an additional 195,030 shares in the last quarter. Spruce House Investment Management LLC raised its stake in AppLovin by 33.7% in the fourth quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $52,650,000 after buying an additional 1,259,199 shares in the last quarter. First Trust Advisors LP raised its stake in AppLovin by 3.7% in the first quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock worth $63,630,000 after buying an additional 144,035 shares in the last quarter. Finally, State Street Corp raised its stake in AppLovin by 14.0% in the third quarter. State Street Corp now owns 3,465,241 shares of the company’s stock worth $67,538,000 after buying an additional 424,435 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APP. The Goldman Sachs Group increased their price objective on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Daiwa Capital Markets began coverage on AppLovin in a report on Monday. They set a “neutral” rating and a $80.00 price objective for the company. BTIG Research increased their price objective on AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Oppenheimer increased their price objective on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, UBS Group increased their price objective on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $59.31.

AppLovin Price Performance

Shares of APP opened at $68.86 on Friday. The business’s 50-day moving average is $64.85 and its two-hundred day moving average is $48.74. The company has a market capitalization of $23.55 billion, a P/E ratio of 68.86, a P/E/G ratio of 1.46 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin Co. has a fifty-two week low of $15.41 and a fifty-two week high of $79.55.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The company had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same period last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 35.7% compared to the same quarter last year. Research analysts predict that AppLovin Co. will post 2.47 earnings per share for the current year.

Insider Activity at AppLovin

In related news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now directly owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is owned by corporate insiders.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.